NTMA/PMA One Voice Lobbies for Extension of R&D Tax Credit
October 1, 2009Comments
NTMA/PMA One Voice is urging Congress to act quickly in passing a multi-year extension of a strengthened R&D tax credit. The credit is set to expire at year end.
As proposed by H.R. 422, introduced by Representatives Kendrick Meek (D-FL-17) and Kevin Brady (R-TX-8), and S.1203, introduced by Senators Max Baucus (D-MT) and Orrin Hatch (R-UT), the R&D tax credit encourages businesses of all sizes to undertake cutting-edge research projects in the United States.
Failure to extend and strengthen the credit would have significant negative consequences for the U.S. economy and would threaten investments needed in important areas of the economy, such as renewable energy and energy-efficiency technologies, manufacturing processes, health care, biotechnology, and information and communications technologies.
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